Crypto Hebdo: From the inauspicious beginnings of Aptos to the insane growth of THE Protocol

Last week, former Diem contributors launched their cryptocurrency, Aptos, after four years of development work. Unfortunately, the beginning of the project was not the most glorious. APT token lost 40% in 24 hours. Yet a meme-corner gained 4,500% thanks to a tweet from Vitalik Buterin. Among other things, a study shows that Bitcoin is less volatile than SP 500. We end each week with the statement of the boss of Walmart on crypto-currencies.

Complicated beginnings for Aptos

Heralded as one of the projects that will mark the crypto world, Aptos had a rough start. Launched on October 18, the project quickly attracted the largest exchange in the market. Binance, FTX, Coinbase promised that they will launch crypto soon. We look forward to returning to Internet Computer for Aptos. However, one event was to subvert all enthusiasm for the project among Diem’s ​​former contributors.

Within a day of its mainnet launch, Aptos’ tokenomic leaked to the market. This has been the subject of serious controversy because much of it is confusing. According to the document, more than 50% of the tokens should be allocated to the “community”. In fact, the word “community” can cause many problems because according to many observers, it is an embellished way to justify the remuneration of venture capital.

So, the criticisms started to rain on Aptos. Some exchanges understanding that there is a big move in crypto have decided to issue APT perpetual contracts. So, not surprisingly, the price of the token lost more than 40% after its IPO.

To learn more, read the following articles:

👉: Aptos (APT): Why all the fuss over Diem alumni cryptocurrency?

DIE exploded after Vitalik’s tweet

A new coin meme is sweeping the crypto market. Its rate increased by 5,500% in 12 hours. This is DIE Protocol, or Le Protocol in French. “Shitcoin” came from a joke by Vitalik Buterin on Twitter. In fact, the latter, in a post written in German, asked his followers if they wanted him to launch a project called “The Protocol”. Without delay, the developers quickly launched the “Die Protocol” meme-coin in reference to the idea of ​​the creator of Ethereum.

The token gained 5,500% after its launch on the exchange. The cryptocurrency has a capitalization exceeding $10 million. However, Bubblemaps revealed that 15 wallets have 20% of DIE tokens in circulation.

To learn more, read the following articles:

👉: Born from a Vitalik Buterin joke, this memecoin rose 5,500% in 12 hours

The noh 1 in the crypto market fluctuates below the SP 500 in October

The overall bearish trend continues to weigh on risky assets. While a rebound at the beginning of the month predicted a change in the situation, the acceleration of inflation swept away the recovery under the fear of continued rate hikes by various central banks. However, one statistic may surprise investors.

The realized volatility of Bitcoin in 20 days is below the SP 500 and the Nasdaq. Even more surprising, a researcher from Kaiko’s company found that: “The spread of 30- and 90-day volatilities between BTC and stocks has also decreased since the second half of September. “

Faced with this observation, some wonder if the largest project of the crypto market is not in the process of separating from the stock market indices, with which it has shared strong correlations for almost two years. In any case, Mike McGlone thinks that by strongly preserving the $19,000 zone, Bitcoin can replace the SP 500. So he said:

Bitcoin at $19,000 May Take the S&P 500 at $3,600 – The Lowest #Bitcoin Price Since the 200 Week Moving Average and The Fact That The Oct 18th Level Was Four Times Higher than the Q1 2020 Close low may signal a sustained bull market after a long discount.

To learn more, read the following articles:

👉: Is Bitcoin less volatile than SP 500? A first since October 2020

Walmart boss sees cryptocurrencies revolutionizing payments

In his speech at the Yahoo Finance All Markets Summit, Walmart CTO Suresh Kumar said that cryptocurrencies will have a disruptive effect on payment systems around the world. According to him, digital coins play an important role in the daily life of online customers.

“Cryptocurrencies are going to be an important part of how customers transact. We want to make sure the process is as smooth as possible for customers…so they can get value out of it.”

he would have said

Suresh Kumar also gave his thoughts on the potential of the metaverse. According to him, part of the customers’ lives will take place inside the immersive worlds. A sector in which Walmart is interested, because since 2021, the company has several patents related to the metaverse. Last month, he was even launched earth (virtual land) and a Walmart’s Universe of Play game on the Roblox app.

To learn more, read the following articles:

👉: The Walmart official said the metaverse and cryptocurrencies play a role in the user experience

Some news in the crypto universe

  • According to statistics provided by DappRadar, the number of transactions at the metaverse project level decreased by 91.61% in the third quarter.
  • Holdonaut won his defamation case against the impostor Craig Wright, who claimed to be the creator of Bitcoin.
  • Ripple was eventually able to retrieve William Hinman’s documents as part of its legal battle with the SEC.


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